Why are some wealthy people so frugal?

Being frugal is awesome.

Learning to love being frugal has been a life changing experience for me for the following reasons:

You must realize that you do not need 90% of the stuff on sale out there: the vast majority of the stuff advertised in front of our eyeballs 24/7 is completely not necessary. Except for extremely rare exceptions related to our basic needs, buying stuffy only adds complications to our lives and worries to our brains, while reducing our savings in the banks. This has nothing to do with being frugal, but rather with being merely rational. If you do not need something, you must not buy it, regardless how frequently you are bombarded by ads, recommendations, etc.

Having less useless stuff at home will allow you to exponentially increase your focus on what matters the most as you will have less distractions, less clutter, less worries about losing or damaging stuff, repairs, etc.

Buying less useless stuff will do wonder to your bank account. The ability to save money increases exponentially once you stop doing shopping for the sake of doing it (maybe because occasionally you feel lonely or you want to impress your peers).

Augmented ability to save money immediately lowers your worries with a fantastic impact on the quality of your sleep.

By being frugal you will learn not to become lazy. You will focus on what really matters and only do that, without wasting time with useless stuff.

Freedom: by not having your brain and daily life focused on useless stuff, you will have the freedom to take opportunities and make experiences that otherwise you would skip because mentally or financially burdened by too many unimportant things.